Sumary of Domino’s CEO says return of late-night, weekend orders fueling sales growth during Covid reopening:
- Domino’s Pizza CEO Ritch Allison told CNBC on Thursday the Covid economic reopening has actually provided a boost for the company, helping fuel same-store sales growth during the second quarter.
- In an interview with Jim Cramer on “Mad Money,” Allison said that while the pizza chain certainly benefited from a pandemic-related rise in takeout and delivery orders last year, the company also had to weather a loss of sales at key times such as weekends.
- Now, as health restrictions ease, that part of its business is returning, Allison said.
- The comments came after Domino’s stock hit an all-time high Thursday and finished up 14.55% Thursday, as Wall Street cheered the company’s better-than-expected quarterly results released before the bell.
- “Back during Covid, we did get a nice tailwind on the delivery business, particularly during the week and at lunch time, you know some dayparts that weren’t normally as big for us while folks were at home,” Allison said.